The Chartered Institute of Taxation (CIOT) is pleased that its concerns about the fairness of penalties for filing late under Making Tax Digital (MTD) will be addressed by HMRC, particularly that penalty points will have a ‘shelf life’ and will therefore expire after a period of good compliance

The Chartered Institute of Taxation (CIOT) is calling on the Government to widen the penalty free period for the new system of ‘Real Time Information’1 (RTI) so that no penalties are levied on employers submitting inaccurate returns until April 2014. Currently it is proposed to levy penalties for incorrect returns from the point that Finance Bill 2013 gains Royal Assent (expected to be July 2013), although penalties for late in-year returns will not be introduced until April 2014.

Reports show the number of countries using capital punishment is decreasing every year. While this trend should be welcomed, there is still a long way to go before the death penalty is truly a thing of the past.